8-KRegulation FDExhibits & Filings

DTE ENERGY CO 8-K Report, Regulation FD Disclosure (May 14, 2021)

Filed May 14, 2021For Securities:DTEDTKDTBDTGDTW

Summary

DTE Energy Company (DTE) filed an 8-K on May 14, 2021, to disclose information that will be discussed in upcoming investor meetings on May 17, 2021. The primary focus of this filing is the presentation of DTE's 2021 operating earnings guidance and the discussion of Adjusted EBITDA. Investors should note that DTE will exclude certain items from its reported 2021 operating earnings, and detailed reconciliations to reported GAAP earnings are not provided due to the unpredictable nature and significant impact of these potential non-recurring items, mark-to-market adjustments, or discontinued operations. The company also highlights its use of Adjusted EBITDA in its presentations. Similar to operating earnings, DTE states it cannot provide a reliable reconciliation of net income to Adjusted EBITDA for the full year 2021 without unreasonable effort. This is due to the inability to forecast with certainty the components of net income, such as impairments, divestiture costs, or changes in accounting principles, which could materially affect reported earnings. The furnished slide presentation, available on DTE's website, contains these discussions and should be reviewed in conjunction with the company's SEC filings.

Key Highlights

  • 1DTE Energy is providing 2021 operating earnings guidance and discussing Adjusted EBITDA in an investor presentation.
  • 2The company will exclude certain items from its 2021 reported operating earnings in its guidance.
  • 3Reconciliations for 2021 operating earnings guidance to GAAP are not provided due to the inability to reliably forecast specific fluctuating items.
  • 4Adjusted EBITDA will be a key metric discussed with investors.
  • 5DTE Energy states it cannot provide a GAAP reconciliation for projected full-year 2021 Adjusted EBITDA without unreasonable effort.
  • 6The information is being furnished as part of a slide presentation (Exhibit 99.1) made available on DTE's website.
  • 7The filing includes a standard forward-looking statements disclaimer and advises investors to review other SEC filings for risk factors.

Frequently Asked Questions

The main purpose of this 8-K filing is to furnish a slide presentation to be used in investor meetings on May 17, 2021. This presentation includes DTE Energy's 2021 operating earnings guidance and discussions around Adjusted EBITDA.

DTE Energy states that reconciliations are not provided because it is not possible to reliably forecast specific items that could impact reported earnings (like non-recurring items, mark-to-market adjustments, impairments, or divestiture costs) without unreasonable effort. These items can fluctuate significantly and materially affect GAAP reported earnings and net income.

The slide presentation is furnished as Exhibit 99.1 to this 8-K filing and will be available on DTE Energy's website, www.dteenergy.com, starting May 14, 2021. Investors are also advised to review DTE's 2020 Form 10-K and 10-Q, and other SEC reports for a discussion of important factors that could affect actual results.